July 2019 Portland Market Action Report

July was a great month for closed sales, which outpaced last June by 6.8% and July 2018 by 7.6%. In fact, this was the strongest July for closings in the PDX area since 2015! The average sale price has increased by 1% and the median sales price increased by 2% when comparing year to date. 

New listings and pending sales both dropped compared to the previous month and year. Inventory decreased just slightly to end at 2.3 months, and during the same period total market day rose by just one day to 43 days. Buyers seem to have purchased the little inventory that was available in July. Though inventory has been low, we have many listings coming to market in the next few weeks!